Capesize rates continue to pull down Baltic Dry Index

Capesizes are putting downward pressure on the entire dry bulk sector as rates for the massive haulers continue to fall.

Cape rates have fallen 25% over the past 11 days to $24,625 per day, causing the Baltic Exchange Dry Index to fall 21% to 1734 in the same period, analysts say.

"The biggest market is the cape market," Deutsche Bank analyst Chris Snyder told TradeWinds today.